Kamal Exchange deploys Sword Fircosoft watch list filtering system

Source: Sword Fircosoft

Sword Fircosoft, the leading global provider of watch list filtering solutions and its Lebanon-based partner, Allied Engineering Group (AEG), announce that Kamal Exchange CO, L.L.C, based in Jordan, has successfully implemented Firco Filtering Suite, Sword FircoSoft's best-of-breed watch list filtering solution.

The partnership between Allied Engineering Group (AEG) and Sword Fircosoft is continuing its successful story. The number of clients in the Middle-East region has increased substantially, especially in Jordan, with Kamal Exchange CO, L.L.C becoming Sword FircoSoft's 7th client in this country

Kamal Exchange CO, L.L.C, a leading financial institution based in Amman (Jordan), licensed and regulated by the Central Bank of Jordan and working under the Jordanian Money Exchange business Law, is deeply committed to fight terrorist financing and money laundering. To ensure compliance with a maximum effectiveness, Kamal Exchange CO, LLC selected Sword FircoSoft's awarded Firco Filtering Suite solution. Firco Continuity for SWIFT Alliance Access (SAA) was the perfect match to respond to their requirements and constraints in terms of real-time transaction filtering within SWIFT Alliance Access. Firco Continuity will enable Kamal Exchange CO, LLC to automatically block transactions involving high-risk parties and therefore prevent them from processing illegal transactions. Another major benefit of Sword FircoSoft's solution is Firco Multi-Laws' option which provides advanced filtering features to enhance the filter performance. Kamal Exchange CO, LLC will be able to create its own business rules to automatically pre-qualify data to filter, or disqualify hits and therefore substantially reduce the False Positive Hit rate, hence saving valuable time and resources. Firco Continuity has been deployed in less than 3 months which demonstrates Sword FircoSoft's dedication to provide the best product as well as the best service possible.

"We needed an adapted and high quality solution to filter our volume of SWIFT transactions. Firco Continuity was the perfect choice, taking into account its ideal integration in SAA and its integration time. We are also very pleased with the solution that gives us a reliable filtering system, from which we can maintain a low false positive hit rate by ourselves" says Mr. Ihab Kamal Chairman of the Board / General Manager of Kamal Exchange CO, LLC.

"Kamal Exchange CO, LLC in Jordan witnesses our continuing and reinforced success story with AEG, who has been our partner for the last 5 years. Facing growing customer demand in the Middle-East and as a result of our sustained growth in this region, we are hosting our first User Network meeting in Beirut, Lebanon, right after our participation to the SWIFT Regional Conference organized in the same city. It will be a great opportunity for Kamal Exchange CO, LLC to meet up with Sword FircoSoft's wide community of users," says Christophe Destephen, Regional Alliance Manager.

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